The Dollar to Naira Black Market Rate remains a critical indicator of Nigeria’s foreign exchange landscape. Here is the latest update on the Dollar to Naira Black Market Rate for today, 16 February 2025, reflecting current trends from the parallel market.
How Much Is Dollar to Naira Today in Black Market?
As of 16 February 2025, the latest Dollar to Naira Black Market Rate is:
- Buying Rate: ₦1,545 per US dollar
- Selling Rate: ₦1,555 per US dollar
These rates are sourced from Aboki Forex and reflect real-time trends in the black market.
CBN Official Rate vs. Dollar to Naira Black Market Rate
The Dollar to Naira Black Market Rate often differs from the official rate provided by the Central Bank of Nigeria (CBN). The CBN rate remains regulated, while the black market rate is determined by demand and supply.
Check the latest CBN rates on CBN.gov.ng.
What Influences the Dollar to Naira Black Market Rate?
Several factors impact the daily fluctuations of the Dollar to Naira Black Market Rate, including:
- Forex Demand: Increased demand from businesses and travelers.
- Economic Policies: CBN forex restrictions and interventions.
- Global Oil Prices: Nigeria’s foreign reserves depend on oil revenue.
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